SEED Innovations (SEED) , an investment company focused on disruptive life sciences and technology ventures, issued a trading update ahead of its annual general meeting today.
SEED highlighted its recently completed £0.5m share buyback programme and maiden special dividend of 1p, saying it will continue to explore similar opportunities as its portfolio generates further liquidity events.
SEED's portfolio contains a mix of liquid, pre-liquidity, and longer-term opportunities, targeting high-growth life sciences and technology ventures, as well as more opportunistic, short-term trading. With c. £3.5m in cash on August 31, 2024, the company is well-funded to captalise on current weakness in its target markets by acquiring undervalued assets.
SEED expressed confidence in the strength of its portfolio, anticipating that its valuation (c. £3m) will steadily align with its NAV of c. £10.8m, driven by the group's robust cash position, dynamic portfolio, and growing investment pipeline. SEED CEO Ed McDermott and FD Lance de Jersey recently bought more shares in the company.
Investors welcomed the update, driving SEED shares 14.48% higher on Tuesday morning. SEED shares are still trading at c. 70% discount to its March 31, 2024 NAV, and given the potential of its targeted portfolio of high-growth disruptive ventures, it is an attractive buy for growth investors.
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